See Also

Macmahon Holdings denies it received an offer from an Indian-based firm to buy its construction business before entering into a sale agreement with its major shareholder Leighton Holdings.

Sembawang Australia - a wholly owned subsidiary of engineering and construction group Punj Lloyd - says it has instructed its lawyers to file a suit against Macmahon after being denied access to conduct due diligence on the Australian company.

Sembawang chief executive Richard Grosvenor said in a statement issued at the weekend that Sembawang had approached Macmahon on November 26 about joint ventures and the potential purchase of its construction business.

But Macmahon has denied the allegation, saying the only offer it had received from Sembawang was its unsolicited, non-binding proposal received on January 3.